5 things to know for kids with special needs turning 18 (like calABLE)

from the SSA.gov site

October 26, 2023 • By Margaret A. Graham, Esq.,

I'm reading Ms. Graham's article and commenting here:

1) Entrusting a parent or loved one to be a Payee/Conservator for your child as the Beneficiary.

My father for instance is my Payee, which is different from a conservator because as the Beneficiary, my mental health rights and privileges to make decisions for my own mental and physical care are not taken away. While I am not as capable as he is with my own finances, he is able to keep track of my finances by having a joint bank account, with access to that account.  He is also responsible for assisting the SSA with keeping track of reporting my income.

2) Each year requirements for substantial gainful activity changes, as does the amount allotted to disability recipients. It's important to be mindful monthly and especially yearly when enrollment or recertifications happen again for each financial obligation on behalf of the Beneficiary.

3) Education and training for each child coming of age may not necessarily incur costs.  It's important to look at the many opportunities that are available to each Beneficiary.  Often, your local wellness center will know of many free opportunities for education. For instance choosing to focus on recovery from mental health and a career in Peer advocacy or something in the social services, (especially for urban areas) may make the Beneficiary eligible for special kinds of Loan Forgiveness programs.

4) Living Arrangement options after turning 18 for new Beneficiaries.  

    In my case, I was never diagnosed until much later in life like mid to late twenties, although I had depression and other problems with health symptoms since I was sixteen or younger. Being mindful of a child's options for financial independence and other ways to support your loved one is important for both parties.  It's helpful for a parent to be able to plan for more stability with regards to financial and environmental care.

5) Special needs trusts versus calABLE accounts.  Did you know it's possible to save  upto 100k with a calABLE account without affecting disability for a Beneficiary?  It's often wisest to speak to your trusted family attorneys and accountants, but be sure you know of all your options. 

 If that Beneficiary wants to work, there's also the Ticket to Work program, which can help be a transition  into a life of service if that is meaningful to the Beneficiary, and provide money towards a calABLE account as needed.

I hope this article was helpful!